Each fiscal period of the Investment Corporation shall be a six-month period, from August 1 through January 31 each year, and from February 1 through July 31 of the following year. Accounts are closed and settled at the end of each fiscal period.

Absorption-type merger with Japan Senior Living Investment Corporation Added healthcare facilities and accommodation to residential facilities in KDR’s main target investments Change the trade name of KDR to Kenedix Residential Next Investment Corporation

(Note) Keisuke Sato serves concurrently as Director & COO, Head of Residential REIT Department and Head of Asset Investment Division, Residential REIT Department, Kenedix Real Estate Fund Management, Inc. and Executive Director of Kenedix Residential Next Investment Corporation. There is no special relationship between the executive director, Keisuke Sato described above and the Investment Corporation except for the above. There is no special relationship between the executive director, Katsue Okuda described above and the Investment Corporation except for the above.